Public Service Enterprise Group (PEG) Releases FY18 Earnings Guidance

Public Service Enterprise Group (NYSE:PEG) updated its FY18 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.00-3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.10.

A number of brokerages have commented on PEG. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $54.00 to $52.00 and set an overweight rating for the company in a research note on Tuesday, February 13th. Zacks Investment Research cut shares of Public Service Enterprise Group from a buy rating to a hold rating in a research note on Monday, February 19th. Mizuho cut shares of Public Service Enterprise Group from a buy rating to a neutral rating in a research note on Monday, February 5th. They noted that the move was a valuation call. UBS Group began coverage on shares of Public Service Enterprise Group in a research note on Friday, February 2nd. They set a neutral rating and a $52.00 price target for the company. Finally, Macquarie upgraded shares of Public Service Enterprise Group from a neutral rating to an outperform rating in a research note on Monday, January 22nd. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Public Service Enterprise Group has a consensus rating of Buy and an average target price of $51.04.

Public Service Enterprise Group (NYSE PEG) opened at $50.53 on Friday. Public Service Enterprise Group has a one year low of $41.67 and a one year high of $53.28. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The stock has a market cap of $24,886.99, a P/E ratio of 49.06, a PEG ratio of 4.17 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, February 23rd. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. During the same period in the previous year, the company earned $0.54 earnings per share. sell-side analysts forecast that Public Service Enterprise Group will post 2.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 8th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.56%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.43. Public Service Enterprise Group’s payout ratio is 166.99%.

In related news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the sale, the chairman now owns 687,600 shares of the company’s stock, valued at $36,374,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 62,499 shares of company stock valued at $3,232,240 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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